677 
April  i,  1897.]  THE  TROPICAL  AGRICULTURIST. 
TKE  EILA  TEA  COMPANY  OF  CEYLON, 
LIMITED. 
At  the  meeting  of  the  Eila  Tea  Company  of 
Ceylon,  Ltd.,  lield  at  the  offices  of  Messrs.  J.  M. 
Robertson  & Co.,  on  tlie  Oth  Marcli  1897,  tlie 
following  report  of  the  directors  was  presented  and 
adopted  : — 
The  directors  have  the  pleasure  to  submit  their 
report  and  accounts  for  the  year  ending  80th  June, 
1896.  The  crop  on  Eila  estate  has  slightly  exceeded 
the  estimate,  but  the  crop  from  Kanangama  was  a 
little  under  that  estimated.  The  total  crops  from 
the  two  estates  amounted  to  3.58,066  lb.  against  an 
estimate  of  360,000  lb.  The  j)rice  realized  for  the 
tea  was  not  altogether  satisfactory  and  the  net  average 
of  the  tea  sold  from  the  two  estates  was  37-97  cts. 
against  42-83  cts.  last  year.  The  net  profit  for  the 
year,  after  allowing  R6,100'49  for  depreciation,  is 
K44,657T1  (equal  to  nearly  15  per  cent  on  the  capital 
of  the  Company)  to  which  must  be  added  the  balance 
brought  forward  (after  payment  of  the  dividend  for 
1894-95)  of  R2,095T3  together  aggregating  R-16,752'24. 
Out  of  this  an  interim  dividend  of  4 per  cent  has 
been  paid  leaving  R34,752’24  available  for  distribution. 
The  directors  recommend  that  this  be  disposed  of  as 
follows,  viz  : — That  a final  dividend  of  9 per  cent 
bo  declared  on  the  share  capital  of  R300,000,  making 
13  per  cent  for  the  year..  ..  R27,000  00 
That  a sum  be  carried  to  Reserve 
Fund  of  . . . . . . . . R6,000  00 
Leaving  to  be  carried  forward  to  next 
account  . . . . . . . . Rl, 752,24 
R34,752  24 
The  estates  on  30th  June,  1896,  consisted  of  Eila, 
410  acres  tea,  5 years  old  and  upwards ; 50  acres 
tea,  2 years  old  and  upwards ; 105  acres  tea,  1 year 
old  and  upwards;  62  acres  tea,  under  one  year;  330 
acres  forest,  total  957  acres. 
Kanangama,  20  acres  tea,  5 years  old  and  upwards  ; 
15  acres  tea,  4 years  old ; 108  acres  forest,  total  323 
acres. 
Mr.  H.  Tarrant  retires  in  accordance  with  the 
articles  of  Association,  but  being  eligible  offers  him- 
self for  re-election.  The  shareholders  will  also  have 
to  elect  an  auditor  for  season  1896-97. 
THE  RATWATTA  COCOA  COMPANY, 
LIMITED. 
An  ordinary  general  meeting  of  the  .shareholders 
of  this  Company  was  held  at  the  Company’s 
Offices  at  No.  20  Baillie  Streeton  tlie  Cth  March 
1897. 
The  following  is  tlie  report  of  tiic  directors  : — 
The  Directors  have  the  pleasure  to  submit  their 
fourth  annual  report,  together  witli  a statement  of 
accounts  for  the  year  ending  December  81st,  1896. 
The  accounts  show  that  the  Company’s  property 
stands  at  a nett  cost  of  R120,941’27.  For  this  capi- 
tal outlay  the  shareholders  have  a property  con- 
sisting of  789  acres.  The  definition  of  the  estate 
as  at  present  constituted  is  as  follows  : — 
3 Years  old.  2 Years.  1 Year.  'I'otal. 
Tea  and  Cocoa  86  acs.  9 acs.  — 95  acs. 
Cocoa  . . 66  „ 109  „ 81  acs.  256  ,, 
Liberian  coffee 
and  tea  ..  15  „ 9 „ — „ 24  „ 
Liberian  coffee  — — 11  ,>  H >> 
Grass  . . — — — 3 „ 
Coconuts  planted  — 
Forest — normally 
2,000  4,000' 
400 
Total  . . 789  ,, 
Besides  opening  and  planting  this  land,  a suli- 
stantial  Superintendent’s  bungalow  has  been  built 
of  bricks,  tiles  and  sawn  timber.  A cocoa  store,  of 
brick  and  iron  roof,  is  nearly  completed,  and  the 
necessary  cooly  lines.  In  view  of  the  low  prices 
obtained  for  cocoa  in  late  years , and  the  success  ot 
So 
tea  in  the  Matale  district,  your  Directors  called  a 
general  meeting  of  shareholders  to  discuss  the  sub- 
ject ; when  it  was  resolved  that  only  the  best  fields  of 
cocoa  (about  200  acres)  should  be  retained  as  cocoa, 
and  that  the  cultivations  of  teas  bo  extended  as 
fast  as  possible,  thus  not  rendering  the  Company 
dependent  on  only  one  product.  The  capital  of  the 
Company  was  raised  from  R150,000  to  R200,000  to 
allow  of  this  programme  being  carried  out.  With 
this  double  cultivation,  the  Directors  look  forward 
to  the  future  with  confidence.  Valuing  the  reserve 
forest  at  R50  per  acre,  it  will  be  seen  that  the  cost 
per  acre  of  cultivated  land  is  R285  per  acre,  a 
figure  which  must  be  considered  moderate,  remem- 
bering that  the  laud  is  all  young  and  coming  into 
bearing.  When  the  whole  estate  of  nearly  800  acres 
is  under  cultivation  (which  it  is  hoped  it  will  be 
in  1,900),  the  , Company  will  have  a very  valuable 
property,  as  it  is  now  known  frem  the  statistics  of 
an  adjoining  estate,  that  the  district  grows  tea 
equal  lo  the  best  in  the  Island  for  quantity.  Work 
of  1897—100  acres  of  forest  will  be  cleared  and  planted 
with  tea,  and  as  much  of  the  exposed  cocoa  land  as 
can  be  done.  Dirtctois — Mr.  B.  Jeffries  retires  from 
the  Board,  but  is  eligible  for  re-eleclion.  An  Audi- 
tor will  also  have  to  be  elected. 
THE  UPPER  MASKELIYA  ESTATES 
COMPANY,  LIMITED. 
The  annual  ordinary  general  meeting  of  tlie 
above  Company  was  held  at  tlie  Company’s 
Offices,  No.  7,  Queen  Street,  Fort,  Colombo,  on 
the  6th  March  1897. 
The  directors’  report  was  as  follow's: — 
Acreage  31st  December,  1896. 
Brunswick  Caskie- 
& Bloomfield.  ben.  Total, 
Tea  in  full  bearing  446  200  646 
Grass,  Timber  Trees,  &c.  72  7 79 
518  207  725 
The  Directors  have  now  the  pleasure  to  submit 
to  the  Shareholders  the  Accounts  of  the  Company 
for  the  past  year. 
The  yield  of  tea  from  Brunswick  and  Bloomfield 
has  been  well  maintained,  the  crop  for  the  year 
having  been  229,238  lb  as  against  227,359  lb  in  1895, 
while  the  prices  obtained  may  be  considered  satis- 
factory, in  view  (>f  the  course  of  the  Tea  market  and 
of  exchange,  the  net  average  for  1896  having  been 
45'60  cents  per  lb  as  against  481  cents  in  1895. 
The  profits  and  receipts  from  sources  other  than 
sales  of  Tea  amounted  to  R5,610'16  against  an  esti- 
mate of  R8,800,  the  shortfall  being  almost  entirely  due 
to  the  purchase  by  the  Company  of  Caskieben  Estate. 
At  Extraordinary  General  Meetings  held  on  5th 
September  and  lIRh  October,  1896,  Special  Re- 
solutions were  passed  increasing  the  Authorized 
Capital  of  the  Company  to  R350,000  to  provide  for 
the  purcb  i : i>f  Caskieben  Estate.  The  160  shares 
of  tlie  second  issue  have  all  been  taken  up  by  holders 
of  those  of  the  fii’st  issue,  and  Caskieben  has  been 
duly  convoyed  to  the  Company. 
The  purchase  of  Caskieben  dated  from  .30th  Maj^, 
from  which  date  to  3ist  December  46,225  lb.  Tea 
were  secured  and  sold  on  the  Company’s  account 
at  a not  average  of  44'25  cents  per  lb.  The  outlay 
on  the  Estate  for  the  same  period  amounted  to 
R12,636'29,  equal  to  27’33  cents  per  lb.  on  the  crop 
secured.  From  the  profit  thus  realised  falls  to  be 
deducted  R3,715'75  interests  paid  to  the  Vendor  from 
30th  May  lo  80th  October,  which  is  duly  shewn  in  the 
Accounts. 
The  Capital  Acoouiit  outlay  for  1896  amounted  to 
Rl,-168'44  under  the  head  of  ‘‘  Buildings,”  for  the  New 
Caddies  and  Rice  Store  referred  to  in  the  last  An- 
nual Report,  and  also  R3,849'49  under  the  head  of 
‘‘Machinery’’  for  Rapid  Roller,  &c.,  which  it  was  found 
desirable  to  provide.  Against  the  latter  sum  has  been 
placed  the  receipt  of  R900  by  the  sale  of  an  old  Roller. 
